£4m confiscation order obtained by Lincolnshire Police: largest amount since the introduction of the Proceeds of Crime Act in 2002.

A confiscation order, totalling £4,024,809.38, has been handed to Imtiaz Khoda – the largest confiscation order obtained since the Economic Crime Unit was formed following the introduction of the Proceeds of Crime Act legislation in 2002.

On 24th April, Imtiaz Khoda, appeared before Judge Hurst where he conceded he had benefited from money laundering and criminal conduct since 2011 to the total amount of £8,761,222.68.

Judge Hurst gave him a confiscation order of £4,024,809.38, he was given 3 months to pay the amount and sentenced to a further 10 years in prison if he defaults. The confiscation order handed down and the default sentence reflects the level of Imtiaz Khoda’s criminality

The POCA proceedings started after Khoda was sentenced for his part in a money laundering conspiracy on 23 June 2017 at Leicester Crown Court. He pleaded guilty to the offence of conspiracy to launder money, specifically in relation to laundering £1.28 million from the Lincolnshire Partnership Foundation Trust (LPFT), in August 2011. He was jailed to 4 years, 6 months and disqualified from acting as a Company Director for 5 years for his part in the conspiracy. It was considered Khoda played a pivotal role in the movement of the defrauded money from the LPFT. Our financial investigators identified that Khoda received £134,000.00 as a profit for his part in the fraud.

Mr Neil Hollingsworth, Financial Investigator, Lincolnshire Police said: “The confiscation order handed down to Imtiaz Khoda and the default sentence which will become active if he doesn’t pay the order reflect the level of his criminality since 2011.

“I hope the order will prove a strong deterrent amongst the criminal fraternity. We have an experienced team of financial investigators and a strong resolve to investigate all levels of criminal activity. We aim to bring about the strongest resolutions where the proceeds of crime act is relevant.”

Original Fraud

Benefit from original criminal conduct -convicted of conspiracy to launder money £280,000.00

Including an amount to reflect the current value of the convicted criminal benefit which is £179,314.00

Totalling £1,460,128.08

General Criminal Conduct

Amount of separate benefit from general criminal conduct since 2011 is £7,301,094.00

Plus benefit from convicted criminal conduct of £1,460,128.08

Totalling £8,761,222.68

POCA Order

Ordered to pay £4,024,809.38 made up of realisable assets worth £2,347,717.28 and £1,217,496 of tainted gifts[i]

Plus £459,596.10 consisting of assets he agreed he had hidden from the court process.

He was given 3 months to pay the amount and sentenced to a further 10 years in prison if he defaults.

The Proceeds of Crime Act 2002 provides a framework for criminals to be stripped of their assets accrued through criminal activity.

Imtiaz Khoda, aged 46, normally resides in Dubai but has links to Lancaster.

(1) Tainted gifts made to friends and family and off-shore sham companies, transferring real estate properties and cash for no consideration

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